State-run miner, NMDC and Steel Authority of India (SAIL) have incorporated a subsidiary company by the name ‘NMDC-SAIL’ on May 23, 2016, in order to develop and explore sale/ supply of iron ore from the allocated mining resource in the State of Chhattisgarh.
In the new company, NMDC will hold a 51percent stake, while SAIL will have a 49 percent stake.
NMDC is engaged in the mining of iron ore. The Company's business segments include Iron Ore and Other minerals & services. The Company is also engaged in the exploration of various minerals, including copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite and beach sands.
